by Jinna Marbry Jinna Marbry
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So, Your Marketing Budget Is Tight

Every business has been faced with a tight budget at least once in their lifespan. While this is most often an obstacle for small businesses and start-ups, even larger more established companies can face budgetary restrictions from time to time. So, what are you going to do when faced with the question of “,What to do when your marketing budget is limited?” The Mauldin Group offers a few things you should consider before cutting out your marketing budget to make the company balance sheet look good.

marketing-budget-limited-rocketsYour Marketing Budget Is Limited, But You Don’t Want To Do These…

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Cut Out Your Marketing Budget CompletelyOne of the biggest mistakes and first-gut instincts when facing a tight budget for a business is to often stop ALL marketing. Not only is this a critical mistake, it can often cause a drop in leads leading to a drop in sales.

Keep Operating Your Marketing Campaign As Is – While stopping your marketing budget is a big mistake so can allowing a marketing campaign that is not performing optimally to go on unchanged. Now is the time to re-evaluate your company’s marketing ROI (Return On Investment) to see where your funds would best be used.

Ask yourself these questions:

  • Where am I seeing the best engagement from my target market?
  • Is my PPC (Pay Per Click) producing qualified leads versus non-qualified leads?
  • What social media platforms do my audience seem to be the most active on?
  • Have I honestly allotted enough of a marketing budget to accomplish my goals?
  • Are my marketing performance expectations realistic?
  • What areas of my marketing could I table for a later time?

A Jack of All Trades, Master of None

marketing-budget-limited-manBe Too Personally Connected To Your Marketing – Often the biggest mistake we see new entrepreneurs and small business owners make is taking their marketing too personally. There is an old saying of about being “A Jack of All Trades, Master of None.” We understand that this is “your baby.” Starting a new business if very much like giving birth but not asking for help can leave you drained of money, time and energy. Sometimes it is best to allow a professional marketing team to take the reins when it comes to your marketing campaign. Not only will experts assure that your marketing strategy is one that will help you reach your company’s unique goals but, they can also help you align your marketing dollars so that your budget performs optimally.

Your Marketing Budget Is Limited, Here’s What You Need To Do …

Acknowledge What’s Not Working and Fix It! – Now is the time to take a hard look at not just your marketing strategy but, your customer service and sales. Sit down with your marketing team and evaluate why you are not seeing the ROI you feel your company should be seeing.

Often there can be easy solutions, ask yourself and your team…

  • What areas are we not meeting expectations for marketing performance?
  • What needs to change in my company’s marketing strategy to experience a better ROI?
  • Am I looking for my qualified leads on the wrong social platforms?
  • Are leads coming in but not being followed through correctly by my internal team?
  • Is my marketing campaign using the best keywords and locations for PPC results?
  • Is my website SEO optimized?
  • Do I have my target market correct?

Create a Buyers Profile – While this can be as simple as filling out a form you download from the internet, it is a critical step for all businesses. To sell your products or services, you HAVE to know who your buyers are. Creating a buyer’s profile can help you and your marketing team to accurately strategize the best way to communicate your messaging to your potential customers.

HINT: You can have multiple buyer profiles, but you don’t want too many as this will spread your marketing campaign too thin. Concentrate on one or two at first, then have a plan to expand your reach in your marketing strategy.

Institute a Sales Funnel and Use It! – No good marketing strategy should be without a sales funnel. This critical tool will assure that your marketing campaign produces qualified leads thus helping your sales team to perform its best and making your company profitable. Remember unqualified leads waste time and labor while frustrating your sales force.

Business Marketing Requires LinkedIn We are just going to say it, if you are in business you MUST HAVE LinkedIn. There is no way around it. Even if your particular customer base are not big users of LinkedIn, you need it. LinkedIn has become the vetting platform for ALL executives and businesses. Having a professionally crafted LinkedIn Profile identifies you as credible within the local, national and global business communities.

For B2B marketing, having a LinkedIn Company Page and exceptional networking strategy will open avenues to more qualified leads, increased business contacts and potential vendors. And for ALL businesses, LinkedIn can be an invaluable resource for talent acquisition.

Give It Time – Marketing plans don’t work overnight. While in many instances you may see some positive results quickly after instituting a new SEO program or website, it takes time to see consistent increasing results. Much like baking a cake, the perfect marketing program requires the right ingredients and measures. It normally takes anywhere from 3-6 months for a marketing campaign to fully start delivering its best results.

marketing-budget-limited-expertsHire Professionals – Okay we understand your marketing budget is limited. We get it. But, just because you are working with a limited budget does not mean your company must settle when it comes to creating a marketing plan. Often when setting a marketing budget, new companies and small businesses will think it’s not an economical business decision to hire a professional marketing agency however, this is not true. Hiring a professional marketing team will assure that your company’s limited marketing budget will be used to produce the best ROI.

Marketing should always, whenever possible, be performed by professionals. Marketing agencies are made up of staff who are trained to know the ins and outs of marketing. They can be a crucial resource when assessing your target marketing, creating engaging messaging and creating a marketing plan. A marketing professional will help you to place your efforts on the right social platforms and create a well-performing PPC program.

Do Your Homework…When Hiring Marketing Professionals

Your Marketing Team should…

    • Have Creative “Out of the Box” Ideas.
    • Be Experienced Working with both B2C and B2B Businesses.
    • Retain College and Industry Training.
    • Always Listen Openly to Your Goals, Wishes, and Concerns.
    • Offer Honest Feedback, Even If It Differs From Your Marketing Plan Thoughts.
    • Care About You, Your Company and Your Staff.
    • Be Knowledgeable About Digital Marketing Industry Trends and Foundations.

marketing-budget-limited-tmgThe Mauldin Group Can Offer Creative Solutions When Your Marketing Budget is Limited

marketing-budget-limited-we-canSaving you time, labor and stress, The Mauldin Group is experienced in working with businesses to deliver the best results for growth and profitability even with marketing budgets that are limited. We understand that you need to make the most of the funds you have so we meet with you one on one to assess in detail your business marketing needs. We then research to come up with customized, strategic solutions that work efficiently within your budget and deliver dynamic results in the shortest amount of time possible.

Ready to discuss your company’s marketing needs with The Mauldin Group? Contact US Now or Call Us at (678) 846-2306.

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